Which of the following statements is FALSE?

A. For a long-term forecast, you can be overly pessimistic if you use geometric average returns.

B. For a short-term forecast, you can be overly pessimistic if you use geometric average returns.

C. For a long-term forecast, you need to use geometric average of historical returns.

D. An investor can use weighted average of geometric and arithmetic average returns to forecast future returns.

E. For a short-term forecast, you need to use arithmetic average of historical returns.